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TOMS judgment to reopen corporate avoidance rows

I’ve not just been thinking about the credit crunch this week. One of the big corporate tax avoidance schemes, cited by Dave Hartnett as an example of the dangers of tax avoidance, is about to hit the headlines again.

It’s about ‘tax-efficient off-market swaps’. It’s worth £1bn, used by mega-corporates, and a test case judgment involving Prudential comes up in the next few days, my colleague Nicholas Neveling has been told.